Northern America's Belt Type Continuous-Action Elevators and Conveyors Market to Reach 128K Units and $1.1B by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: Northern America - Belt Type Continuous-Action Elevators And Conveyors For Goods Or Materials - Market Analysis, Forecast, Size, Trends And Insights.

The market for belt type continuous-action elevators and conveyors in Northern America is expected to continue growing, with a forecasted increase in both volume and value by the end of 2035. Market performance is projected to expand with a CAGR of +0.2% for units and +1.0% for value, reaching 128K units and $1.1B respectively.

Driven by increasing demand for belt type continuous-action elevators and conveyors for goods or materials in Northern America, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.2% for the period from 2024 to 2035, which is projected to bring the market volume to 128K units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.0% for the period from 2024 to 2035, which is projected to bring the market value to $1.1B (in nominal wholesale prices) by the end of 2035.

Consumption of belt type continuous-action elevators and conveyors for goods or materials fell to 126K units in 2024, waning by -10.4% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak volume of 175K units. From 2021 to 2024, the growth of the consumption of failed to regain momentum.

The size of the market for belt type continuous-action elevators and conveyors for goods or materials in Northern America expanded rapidly to $961M in 2024, picking up by 9.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.8% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $1B in 2020; however, from 2021 to 2024, consumption failed to regain momentum.

The United States (111K units) remains the largest belt type continuous-action elevator and conveyor consuming country in Northern America, comprising approx. 88% of total volume. Moreover, consumption of belt type continuous-action elevators and conveyors for goods or materials in the United States exceeded the figures recorded by the second-largest consumer, Canada (15K units), sevenfold.

From 2013 to 2024, the average annual rate of growth in terms of volume in the United States was relatively modest.

In value terms, the United States ($847M) led the market, alone. The second position in the ranking was taken by Canada ($114M).

From 2013 to 2024, the average annual growth rate of value in the United States amounted to +2.7%.

The countries with the highest levels of belt type continuous-action elevator and conveyor per capita consumption in 2024 were Canada (383 units per million persons) and the United States (327 units per million persons).

From 2013 to 2024, the most notable rate of growth in terms of materials, amongst the main consuming countries, was attained by the United States (with a CAGR of +0.1%).

In 2024, production of belt type continuous-action elevators and conveyors for goods or materials in Northern America totaled 65K units, leveling off at 2023 figures. Overall, production saw a perceptible shrinkage. The growth pace was the most rapid in 2022 with an increase of 114% against the previous year. The volume of production peaked at 90K units in 2013; however, from 2014 to 2024, production remained at a lower figure.

In value terms, production of belt type continuous-action elevators and conveyors for goods or materials amounted to $683M in 2024 estimated in export price. Over the period under review, production continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2022 with an increase of 82% against the previous year. Over the period under review, production of hit record highs at $1.2B in 2014; however, from 2015 to 2024, production remained at a lower figure.

In 2024, approx. 111K units of belt type continuous-action elevators and conveyors for goods or materials were imported in Northern America; with a decrease of -36.7% compared with 2023 figures. Over the period under review, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 64% against the previous year. The volume of import peaked at 175K units in 2023, and then plummeted in the following year.

In value terms, imports of belt type continuous-action elevators and conveyors for goods or materials stood at $1B in 2024. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 64% against the previous year. The level of import peaked in 2024 and is expected to retain growth in years to come.

The United States prevails in materials structure, finishing at 101K units, which was near 92% of total imports in 2024. It was distantly followed by Canada (9.3K units), constituting an 8.4% share of total imports.

The United States was also the fastest-growing in terms of the belt type continuous-action elevators and conveyors for goods or materials imports, with a CAGR of +8.0% from 2013 to 2024. Canada (-3.3%) illustrated a downward trend over the same period. While the share of the United States (+15 p.p.) increased significantly in terms of the total imports from 2013-2024, the share of Canada (-15.2 p.p.) displayed negative dynamics.

In value terms, the United States ($827M) constitutes the largest market for imported belt type continuous-action elevators and conveyors for goods or materials in Northern America, comprising 80% of total imports. The second position in the ranking was held by Canada ($205M), with a 20% share of total imports.

In the United States, imports of belt type continuous-action elevators and conveyors for goods or materials expanded at an average annual rate of +11.9% over the period from 2013-2024.

The import price in Northern America stood at $9.3 thousand per unit in 2024, rising by 70% against the previous year. Import price indicated perceptible growth from 2013 to 2024: its price increased at an average annual rate of +4.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, import price for belt type continuous-action elevators and conveyors for goods or materials increased by +129.3% against 2021 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($22 thousand per unit), while the United States stood at $8.2 thousand per unit.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Canada (+11.1%).

In 2024, overseas shipments of belt type continuous-action elevators and conveyors for goods or materials increased by 45% to 50K units for the first time since 2021, thus ending a two-year declining trend. Total exports indicated a noticeable increase from 2013 to 2024: its volume increased at an average annual rate of +4.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of belt type continuous-action elevators and conveyors for goods or materials dropped to $438M in 2024. The total export value increased at an average annual rate of +2.4% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 22% against the previous year. Over the period under review, the exports of hit record highs at $467M in 2023, and then contracted in the following year.

In 2024, Canada (27K units), distantly followed by the United States (22K units) were the major exporters of belt type continuous-action elevators and conveyors for goods or materials, together committing 100% of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Canada (with a CAGR of +9.9%).

In value terms, the United States ($237M) and Canada ($201M) were the countries with the highest levels of exports in 2024.

Among the main exporting countries, Canada, with a CAGR of +7.0%, recorded the highest growth rate of the value of exports, over the period under review.

The export price in Northern America stood at $8.8 thousand per unit in 2024, dropping by -35.2% against the previous year. In general, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 when the export price increased by 46%. As a result, the export price reached the peak level of $16 thousand per unit. From 2015 to 2024, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was the United States ($11 thousand per unit), while Canada totaled $7.3 thousand per unit.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (-1.0%).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for belt type continuous-action elevator and conveyor in Northern America. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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